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STX, Aabar May Team Up For Hynix Bid

STX Group and Abu Dhabi’s state-owned fund Aabar may tie up to bid for a 15% stake in memory-chip maker Hynix Semiconductor.

STX Group and Abu Dhabi’s state-owned fund Aabar may tie up to bid for a 15% stake in memory-chip maker Hynix Semiconductor, The Wall Street Journal reports. The stake-on-sale of Hynix is valued at $1.4 billion.

The South Korean shipping-to-shipbuilding conglomerate will also form a consortium with a Middle Eastern wealth fund to finance the deal. Creditors of Hynix, headed by Korea Exchange Bank, are seeking to sell the combined 15% stake they bought in 2001.

Click here for the story from The Wall Street Journal.

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